What is Sukanya Samriddhi Yojana?

The Sukanya Samriddhi Yojana is a government-backed savings scheme launched as part of the ‘Beti Bachao, Beti Padhao’ campaign. It is specifically designed to secure the financial future of the girl child in India. The scheme offers attractive interest rates, tax benefits, and a long-term investment horizon that aligns with a girl’s educational and marriage expenses.

The scheme can be opened for a girl child below the age of 10 years. Parents or legal guardians can open this account in any authorized bank branch or post office. The account matures after 21 years from the date of opening or when the girl gets married after attaining 18 years, whichever is earlier.

Key Features and Benefits

• 8.0% interest rate for FY 2024-25 (compounded annually)
• ₹1.5 lakh tax deduction under Section 80C of Income Tax Act
• Completely tax-free interest and maturity amount
• Minimum annual deposit of ₹250 to keep the account active
• Maximum deposit limit of ₹1,50,000 per financial year
• Account matures after 21 years from the date of opening
• Partial withdrawal of up to 50% allowed after the girl turns 18
• Account can be transferred anywhere in India
• Backed by the Government of India, ensuring complete security

How to Use Our Calculator

Our Sukanya Samriddhi Yojana Calculator is designed to provide accurate estimates of your savings. Simply enter your daughter’s age, the annual deposit amount you plan to invest, the number of years you wish to contribute, and the current interest rate. The calculator will instantly show you the total amount invested, interest earned, and the maturity value.

The calculator uses the compound interest formula to provide precise calculations based on the parameters you input. It helps you plan your investments better by showing how different deposit amounts and contribution periods affect your final returns.

Eligibility Criteria

To open a Sukanya Samriddhi Yojana account, the following criteria must be met:

• The girl child must be below 10 years of age at the time of account opening
• Only two SSY accounts are allowed per family (one for each girl child)
• The account can be opened by the natural guardian or legal guardian of the girl child
• Required documents include birth certificate of the girl, identity and address proof of the guardian

Rules and Withdrawal Guidelines

Understanding the rules and withdrawal guidelines is crucial for maximizing the benefits of this scheme:

• Deposits can be made for 15 years from the date of account opening
• After 15 years, the account continues to earn interest until maturity
• A minimum deposit of ₹250 must be made annually to keep the account active
• If the minimum deposit is not made, a penalty of ₹50 is charged
• Partial withdrawal of up to 50% of the balance is allowed after the girl turns 18
• Withdrawal is permitted only for higher education or marriage expenses
• The account matures after 21 years from the date of opening
• If the account is not closed after maturity, it continues to earn interest at the applicable rate